As for pipes with different lengths, with heave compensation device replaced by elastic constraint, a vibration equation was established by using energy integration approach, and the dynamic response of lifting pump installed at different positions of pipes was analyzed by finite element method. Results show that the harmonic response of stress excited by the following single loads was in an ascending order: torque, wave in longitudinal direction, and a combination of wave and current in horizontal direction. Under excitation by all these three loads with the same phase, the harmonic response of the system increased significantly. When the installed lifting pump was changed from a high position to a low position, the maximum equivalent stress of pipeline increased after an initial falling down. The installation position of lifting pump on the pipe corresponding to the minimum of the maximum equivalent stress was the suboptimal installation position. Based on the suboptimal installation position for the lifting pump on the pipeline with specific length, an empirical formula was established for the suboptimal installation position, which can provide reference for the quantitative design of lifting system.